News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Jun- 2018 -27 June
‘Serial returners’ cost retailers £7bn a year
New research from Barclaycard has revealed that retail returns made by British shoppers amount to a loss of £7bn a year for retailers. Some 47% of clothing goods purchased are returned by consumers – while they spend on average £313 on online clothes shopping each year, they end up sending…
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26 June
British grocery market sees two years’ consecutive growth
Britain’s grocery sector has grown for two consecutive years, according to the latest grocery market share figures from Kantar Worldpanel for the 12 weeks to 17 June 2018. The figures published today, 26 June, showed supermarket sales have risen for 25 consecutive months and now stand at 2.1% compared with…
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26 June
Carpetright woes as CVA activity results in £70.5m loss
Carpetright has reported a £70.5m loss before tax as a result of the cost and accounting impacts of the group’s restructuring activity. Total group revenue decreased by 3.0% to £443.8m and like-for-like sales for the full year declined by 3.6%, with the first eight weeks of the new financial year…
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26 June
EXCLUSIVE: Mattressman accounts ‘disaster’
Mattressman has revealed that it entered a Company Voluntary Agreement (CVA) due to “inaccurate management accounts”, which led the company to believe it was profitable in Q1 and Q2 of 2017, Retail Sector can reveal. However in March this year it was found that it was losing money during that…
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26 June
Clarks CEO resigns following conduct that ‘fell short’ of company expectations
The CEO of family-owned footwear retailer Clarks has resigned after his “conduct, conversations and expressions fell short” of company expectations. Clarks said that it has accepted Mike Shearwood’s resignation “following an investigation into complaints that breached the company’s code of ethics on a number of occasions”. Shearwood joined Clarks as…
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25 June
Debenhams partners with local food companies
Department story chain Debenhams has partnered with independent local food companies to offer a variety of food options to customers. The new initiative, which has been tested in the company’s central Manchester, Trafford and Oxford Street stores, has led Debenhams with an 11% uplift in food sales after concessions of…
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25 June
Morrisons reintroduces paper bags to cut down on plastic waste
Supermarket chain Morrisons will be reintroducing brown paper bags for loose fruit and vegetables, in order to help reduce the approximately 150 million small plastic bags used annually by Morrisons customers. The bags are made from 100% recyclable paper and will have a see-through paper strip so that customers and…
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25 June
Goldsmiths jewellers owner appoints banks ahead of IPO listing next year
The parent company of British jewellery retail chain Goldsmiths has appointed two banks to manage its flotation on the stock market next year. Aurum Holdings, which also owns Watches of Switzerland, has appointed Goldman Sachs and Barclays to aid with a public listing that may take place in London next…
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25 June
MPs to investigate environmental impact of ‘fast fashion’
The Environmental Audit Committee has launched an investigation into the social and environmental impact of disposable ‘fast fashion’ and the wider clothing industry. The inquiry will examine the carbon, resource use and water footprint of clothing throughout its lifecycle. It will also look at how clothes can be recycled, and…
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25 June
More than 130 jobs cut as Mattressman enters CVA
Mattressman has announced it is to enter a Company Voluntary Agreement (CVA) which will see the closure of 14 of its 25 stores. The store closures will see 136 jobs cut as the bed retailer looks to “downsize” and begin a “restructuring process”. Mattressman looked to be in rude health…
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